Airdrop to Exit Ramp: OKX Facilitates MET's 41% Sell-Off

The sudden $4.2 million airdrop of Meteora (MET) tokens to wallets linked to the TRUMP token team, followed by immediate deposits into OKX, has sparked scrutiny over the exchange's role in a sharp price decline. According to Arkham Intelligence, the airdrop—received by a developer address and two liquidity providers—was fully transferred to OKX shortly after the token's listing, coinciding with a 41% sell-off in MET's price, as reported by CoinEdition. The move raised concerns about liquidity manipulation, as the synchronized deposits effectively created an "exit ramp" for large holders, intensifying volatility in the MET/USDT pair, according to Lookonchain.

Meteora's price has since tested critical support at $0.50, with analysts noting that sustained weakness below this level could drive the token toward $0.45. Market data shows a 480 million circulating supply out of one billion total, reflecting moderate liquidity but heightened volatility risk. The token's market capitalization has plummeted to $255.37 million, while 24-hour trading volume surged over 148,000%, signaling speculative activity, as previously reported by CoinEdition.

Amid these developments, OKX has expanded its institutional offerings with the launch of Rubix, a modular Digital Assets-as-a-Service (DAaaS) platform designed for regulated financial institutions, according to FinanceFeeds. The platform enables banks, asset managers, and brokers to integrate digital-asset services—including market access, custody, and settlement—into existing systems without building new infrastructure. Rubix's architecture supports compliance with global regulations such as MiCA in Europe and VARA in the UAE, while its interoperability with existing OMS/EMS systems aims to reduce operational complexity, as reported by Crypto.news. Simon Ren, Senior Vice President of OKX Institutional, emphasized that Rubix addresses "barriers to entry" for institutions seeking to meet growing client demand for crypto services.

The exchange's recent listing of MET in Turkey further underscores its strategic expansion. OKX TR announced spot trading for MET, with deposits opening on October 22, 2025, according to an OKX TR listing. The listing includes initial restrictions on trade sizes to mitigate volatility risks, reflecting OKX's broader approach to managing new token listings.